RAIN TECHNOLOGIES INC.
These Terms and Conditions (“Terms”) apply to the “Balance Protection Feature” offered on the Rain App.
IMPORTANT: These Terms apply to You when You activate, as well as each time You use, the Balance Protection Feature. If Rain makes one or more changes to these Terms that materially affect how You may use the Balance Protection Feature, Rain will provide a notice to You that describes the change(s) to these Terms or the Balance Protection Feature, as applicable. If You decide, for any reason, to reject these Terms, You must deactivate the Balance Protection Feature in the Rain App and stop using the Balance Protection Feature.
Each time you use the Balance Protection Feature, please review the “Effective Date” of these Terms. So long as You keep the Balance Protection Feature activated in Your Rain Account, You are accepting these Terms.
IMPORTANT INFORMATION WILL BE PROVIDED TO YOU IN ELECTRONIC RECORDS, SUCH AS VIA EMAIL.
As stated in the EFT Agreement, the use of the Rain App or any part of the Services with Your mobile phone, tablet, or laptop represents Your agreement, as well as Your course of dealing, to conduct transactions and communicate with Rain via electronic methods.
These Terms include the following:
I. General Terms
II. How to Use the Balance Protection Feature
III. Participation and Transaction Fees for the Balance Protection Feature
IV. Arbitration Agreement; Other Terms
I. General Terms
The person who downloads or uses the Rain App or uses Rain’s Site (“You”) and who chooses to use the Balance Protection Feature agrees to the then-current version of: (i) these Terms; (ii) the EWA Agreement; and (iii) the Terms of Service that apply to the use of the Rain App or Rain’s Site.
Rain may, at any time, change any condition, term, or provision of these Terms for the Balance Protection Feature, including by exercising its rights to impose any new type of fee or charge on You or to increase the cost or the price of the Balance Protection Feature (either separately or in conjunction with any of the Services), except to the extent not permitted by applicable law. This means that Rain may change: (i) these Terms in ways that may affect how you can use the Balance Protection Feature, such as by adding new conditions; and (ii) the type or amount of any fee that may be imposed for participating in the Balance Protection Feature or conducting transactions using the Balance Protection Feature.
Capitalized words that are not defined specifically for use in these Terms have the meanings assigned to them in the EWA Agreement or the Terms of Service that apply to the use of the Rain App or Rain’s Site, as applicable. For example, the term “Bank” means the insured depository institution that You choose for Your transaction account(s), such as a checking or savings account, and “Primary Bank Account” means the specific transaction account at Your Bank that You designate to be linked to Your Rain Account.
For the purposes of these Terms, the term “business day” means any day, other than Saturday, Sunday, or a federal holiday.
II. How to Use the Balance Protection Feature
1. No Guarantee Against Fees Charged to Your Primary Bank Account; Connection with Plaid
No Guarantee Against Charges Imposed by Your Bank: The Balance Protection Feature does not guarantee that You will not be subject to fees imposed by the Bank that holds Your Primary Bank Account.
You Must Continue to Monitor Your Primary Bank Account: The Balance Protection Feature does not relieve You from the responsibility of managing transactions to Your Primary Bank Account, including by tracking deposits and withdrawals and monitoring the daily balance in Your Primary Bank Account.
Your Agreement with Plaid: The Balance Protection Feature requires You to activate the feature in Your Rain Account and, in doing so, You must agree to certain terms and conditions that are established by Plaid, which is a service provider to Rain. Plaid provides to Rain the data about the transactions in Your Primary Bank Account. Plaid’s terms and conditions are presented to You at the time that You activate the Balance Protection Feature. If You decline to agree to the terms and conditions established by Plaid, then You must deactivate the Balance Protection Feature and cease using the Balance Protection Feature in the Rain App.
2. Link to Your Primary Bank Account
To use the Balance Protection Feature, You must link to Your Rain Account to Your Primary Bank Account. You may change Your Primary Bank Account, except to the extent that Rain prevents or postpones the change (e.g., to delay the change in order to complete a pending Electronic Payment). As between You and Rain, You shall be responsible for any act or omission made by Your Bank in connection with Your request of or Rain’s action relating to an Electronic Payment, including any EWA transfer made when You use the Balance Protection Feature.
3. Cancellation Notice Due 24 Hours in Advance
You may deactivate the Balance Protection Feature at any time. Rain does not impose a Fee for canceling participation the Balance Protection Feature. You may deactivate the Balance Protection Feature on any day (i.e., not solely on a business day).
If You wish for Rain to stop to initiate an upcoming EWA transfer to Your Primary Bank Account via the Balance Protection Feature, You must deactivate the Balance Protection Feature at least one day (24 hours) prior to an upcoming balance check. For example, if You wish to stop using the Balance Protection Feature as of an upcoming Monday, then You must deactivate it not later than 09:00 Central Time on the prior Sunday.
4. Daily Balance Check
When You activate the Balance Protection Feature, Rain checks—on each day—the balance of funds held in Your Primary Bank Account. Each daily balance check is conducted as of 09:00 Central Time. This means that, while the balance of funds available in Your Primary Bank Account will fluctuate, depending on how Your Bank processes transactions, the balance that Rain determines as of 09:00 Central Time is one of the factors that determines whether an EWA transfer will be initiated via the Balance Protection Feature.
A balance check via the Balance Protection Feature is conducted on a Saturday, Sunday, or federal holiday.
5. Timing for Initiating EWA Transfers and Settling of Funds
The Balance Protection Feature conducts only one EWA transfer at a time. The time for processing and settlement of each EWA transfer using the Balance Protection Feature requires up to three (3) business days. Within that three-business day period for processing each EWA transfer, no new EWA transfer will be initiated via the Balance Protection Feature. That means that once an EWA transfer via the Balance Protection Feature is made, no new EWA transfer will be scheduled during the three-business day processing period—even if the balance check shows that the balance in Your Primary Bank Account is below the threshold that You choose.
Each EWA transfer for the Balance Protection Feature is initiated as of 10:00 Central Time on the day that a balance check is made. However, each EWA transfer is processed by the banks, including Your Bank, only on a business day. Rain initiates the EWA transfer for the Balance Protection Feature via a same-day ACH transactioin, not through a payment card network (such as Visa). Funds that are transferred via the Balance Protection Feature are available for You in Your Primary Bank Account only if (i) the funds arrive in that Account on a business day and (ii) Your Bank makes the funds available to You in that Account.
Even though Rain will start an EWA transfer at 10:00 Central Time on the day that the balance check is made, there is no guarantee that, by the end of that business day, that the funds will be deposited in Your Primary Bank Account. For example, if a balance check is conducted on Saturday, the EWA transfer will be processed by the banks on the following Monday (or on the following Tuesday if that Monday is a federal holiday).
6. Standards for Making an EWA Transfer Following Balance Check
So long as You keep the Balance Protection Feature activated in Your Rain Account, You are permitting Rain to initiate an EWA transfer to Your Primary Bank Account. However, even if the balance check shows that Your Primary Bank Account has a balance below the threshold that You select, under some circumstances the EWA transfer will not be made via the Balance Protection Feature.
IMPORTANT: An EWA transfer via the Balance Protection Feature will not be made if any of the following conditions apply:
(i) You Have Less Than the Minimum of EWA Balance: You must have at least the minimum amount of available EWA balance in Your Rain Account. For example, Rain may set the minimum amount of an EWA transfer via the Balance Protection Feature to be $50.00. At that level, the EWA balance in Your Rain Account must be at least $50.00 on the day that the balance in Your Primary Bank Account triggers an EWA transfer via the Balance Protection Feature.
(ii) Your Employer Sets a Limit On the Rain Account That Prevents an EWA Transfer: Your request for an EWA transfer via the Balance Protection Feature will not be processed if that EWA transfer does not conform to any limit that Your employer establishes for using Your Rain Account. For example, if Your employer restricts Your use of the Rain Account to not more than two (2) EWA transfers per pay period, Rain will not process an EWA transfer via the Balance Protection Feature if You already obtained two (2) EWA transfers in that same pay period.
(iii) Your Prior EWA Transfer Has Not Settled: EWA transfers via the Balance Protection Feature are processed only one at a time. If an EWA transfer via the Balance Protection Feature is made on day one (e.g., Monday), but the funds have not arrived in Your Primary Bank Account on day two (e.g., Tuesday), then an EWA transfer via the Balance Protection Feature will not be made on day two.
(iv) Balance Check Is Incomplete: As described in Section (II)(1), Plaid provides to Rain the data about the transactions in Your Primary Bank Account. If Plaid does not return any data about Your Primary Bank Account or the data that Plaid returns reveals an error code, then Rain treats that event as an incomplete balance check. If the balance check is incomplete, then no EWA transfer is initiated via the Balance Protection Feature.
7. Amount of an EWA Transfer Following Balance Check
The amount of an EWA transfer initiated via the Balance Protection Feature depends on the amount of the EWA balance in Your Rain Account and the “Top Up” threshold that You set for Your Primary Bank Account. An EWA transfer via the Balance Protection Feature will be up to the amount of funds needed so that the balance in Your Primary Bank Account reaches the Top Up threshold that You choose.
The Top Up threshold is the amount of funds that You wish to hold in Your Primary Bank Account after an EWA transfer is made using the Balance Protection Feature. The Top Up threshold represents the maximum amount of balance for Your Primary Bank Account could have if replenished due to an EWA transfer via the Balance Protection Feature.
For example, suppose You set the minimum balance in Your Primary Bank Account to be $100.00. Correspondingly, You set the Top Up threshold to be $200.00. When a balance check shows that Your Primary Bank Account has $90.00, the Balance Protection Feature will trigger an EWA transfer. If the available EWA balance in Your Rain Account meets the required minimum amount (e.g., $50.00), then an EWA transfer will be initiated via the Balance Protection Feature.
The amount of the EWA transfer will be either: (i) the full amount of Your available EWA balance or (ii) the difference between the Top-Up threshold and the actual balance in Your Primary Bank Account, whichever amount is lower. Thus, using the example above, if the full amount of Your available EWA balance is $75.00, then only $75.00 will be transferred to Your Account. But if Your available EWA balance is $150.00, then the amount of the EWA transfer via the Balance Protection Feature will be the $110.00 needed to “top up” the balance in Your Primary Bank Account (i.e., $200.00 minus $90.00 (which is the actual balance in Your Primary Bank Account) equals $110.00).
III. Participation and Transaction Fees for the Balance Protection Feature
1. In general. Rain may impose a fee or charge on You (each a “Fee”) for participating in the Balance Protection Feature (a “Subscription Fee”), and participating in the Balance Protection Feature may be bundled with one or more features of the Services under the same Subscription Fee. In addition, Rain may impose a Fee for each transaction that is conducted in Your Rain Account when initiated via the Balance Protection Feature (a “Transaction Fee).
2. Changes to Fees. Rain may, from time to time, change the amount of any Fee that is imposed for Your use of the Balance Protection Feature. The amount of each Fee will be presented to You in the Rain App in advance of the charge to Your Rain Account. For example, when You activate the Balance Protection Feature, the amount of a Transaction Fee will be displayed in the Rain App in one or more of the screens that enable You to link Your Primary Bank Account or to activate the Balance Protection Feature.
3. Your Payment of a Fee. Rain may, in its sole discretion, allow You two or more options to make a payment of a Fee; provided, however, that at any time, Rain may initiate an Electronic Payment to debit Your Primary Bank Account to satisfy any amount You owe Rain for any Fee.
4. Optional Service. You may choose whether, and when, to use the Balance Protection Feature. Use of the Rain App for other Services is not subject to the condition of using the Balance Protection Feature. You may cancel at any time. Rain does not impose any Fee for canceling participation the Balance Protection Feature; provided, however, that Rain shall not be obligated to make any refund(s) of the Participation Fee(s) or Transaction Fee(s) once paid, except to the extent required by applicable law. If You cancel Your participation in the Balance Protection Feature, and then later decide to again use the Balance Protection Feature, You will be subject to the price schedule for Fees that applies at that later date (which also may be subject to change, in accordance with these Terms).
5. Participation Fee. If Rain charges a Participation Fee for the Balance Protection Feature, that Fee is charged once for each period when You have activated the Balance Protection Feature, such as on a monthly basis. The amount of the Participation Fee may be: (i) displayed in the Rain App at the time You enroll to participate in the Balance Protection Feature or (ii) disclosed to You in a timely manner that enables You to choose whether to enroll in the Balance Protection Feature (or timely deactivate the Balance Protection Feature). Except to the extent prohibited by applicable law, Rain shall not be obligated to waive any Participation Fee or to make any refund(s) of the Participation Fee(s) once paid. Rain may, at any time, change any condition or term relating to the Participation Fee(s), except to the extent prohibited by applicable law. This means that Rain may change: (i) the Terms in ways that may affect how you can use the Balance Protection Feature, such as by adding new conditions; and (ii) the type or amount of any Participation Fee.
6. Other Fees May Apply to Your Use of the Rain Account. When You request on-demand transactions on the Rain App during a period when You have activated the Balance Protection Feature, Your overall costs for using the Services may increase (i.e., relative to not using the Balance Protection Feature).
7. On-Demand Requests for Earned Wage Payments While Participating in Auto Balance . If You use the Balance Protection Feature, You still are permitted by these Terms to use the Rain App for making on-demand requests for one or more Earned Wage Payments. Under these Terms and the EWA Agreement, You may make an on-demand request for an Electronic Payment, either by ACH or debit card. You acknowledge and agree that, if You request an on-demand transaction for an Earned Wage Payment via debit card, the Fee for that Payment will not reflect any reduction (if any) in the Transaction Fee that may otherwise apply when using the Balance Protection Feature. If You need or wish to make an on-demand request for an Earned Wage Payment, either by ACH or by debit card, You agree that You first shall check the balance of Your earned Wages. Any on-demand Earned Wage Payment that You obtain will reduce the balance of Your earned Wages in Your Rain Account, and the balance might not be higher than Your desired level for the Balance Protection Feature.
IV. Arbitration Agreement; Other Terms
1. BINDING ARBITRATION
ARBITRATION NOTICE: THE EWA AGREEMENT CONTAINS AN ARBITRATION CLAUSE. EXCEPT FOR CERTAIN TYPES OF DISPUTES MENTIONED IN THE ARBITRATION CLAUSE, YOU AND RAIN AGREE THAT DISPUTES BETWEEN US REGARDING AUTO BALANCE WILL BE RESOLVED BY MANDATORY BINDING ARBITRATION, AND YOU AND RAIN WAIVE ANY RIGHT TO PARTICIPATE IN A CLASS-ACTION LAWSUIT OR CLASS-WIDE ARBITRATION.
2. Discontinuing the Services. Rain reserves the right to modify or discontinue the Services (or any portion of the Services), including the Balance Protection Feature, temporarily or permanently. Rain shall notify you in advance of Rain’s election to exercise its right to discontinue the Services. Rain shall not be liable to You or any third party in the event that Rain exercises its right to modify or discontinue any portion or all of the Service.
3. Term. The Services, including the Balance Protection Feature, shall be provided from the date on which You download or register for the Services and accept these Terms, and the Services shall continue until terminated. This means that the term for the Balance Protection Feature runs until (i) You cancel Your participation in the Balance Protection Feature or (ii) Rain cancels Your participation in, or discontinues, the Balance Protection Feature, whichever is earlier.
Rain Technologies Inc. v. 6.2 Eff 20260316
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